Under the terms of the agreement, Black Diamond will purchase POC for 311 million Swedish kronor (approximately $43.5 million). At closing, Black Diamond will deliver approximately 460,000 shares of BDE common stock and approximately $40.0 million in cash depending upon the currency exchange rate at closing.

For its fiscal year that ended April 30 POC's unaudited total revenues were approximately $22.5 million, an increase of approximately 35 percent over the prior year.

Black Diamond has committed an additional estimated $12.5 million payable in a series of incentives payable to management over a six and a half year period.

"POC and Black Diamond were both founded as solutions-based companies, focused on providing unmatched personal protection for active outdoor athletes," said Peter Metcalf, president and CEO of Black Diamond.

"We believe POC is one of the most innovative, fastest-growing and hottest brands in action sports protective gear today and a strong strategic addition to the Black Diamond platform."